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HOME > ANNUITIESWednesday, August 15, 2018

Annuities

 

PoliciesPlanning for your retirement? Changing jobs?

KGS Insurance can establish an annuity for your retirement that stays in place regardless of your job changes. You can rollover existing IRA monies and continue to add to them, or just let them grow tax-deferred.

Our CD-type annuities offer stable, tax-deferred plans with either a single premium deposit or flexible, monthly deposits. You determine the length of annuity: 3 years, 5 years, or 7 years and you determine the amount. Like a CD, the interest rate is guaranteed for the period of time you chose. After that period ends, your monies will earn a competitive interest rate while the surrender charge expires. The benefit of the annuity over a CD is that the interest is tax-deferred until it is taken out of the annuity. With a CD the interest is taxed each year.

Erie Family Life is financially secure as an member company of Erie Insurance, a group of companies providing insurance since 1925. They consistently receive high financial ratings and various customer service awards. With Erie annuities there are no upfront fees or sales charges either. You begin earning interest on 100% of your investment immediately. Some other companies have surrender charges on each payment while Erie has a charge depending on the plan chosen, but once the surrender charge period expires there is no surrender charge at all. Erie annuities also offer a 10% withdrawal each year without incurring the surrender charge (but income tax and IRS penalties may still apply.) The surrender charge is also waived in the event the owner dies, is confined to a nursing home, or is diagnosed as terminally ill with life expectancy of less than 1 year.

You can elect to receive monies now if you are of retiring age, or defer to your later retirement age. Interest rates vary depending on amount, time chosen, and type of annuity. Annuities guarantee a retirement income that cannot be outlived.

Call us today at KGS Insurance for more information on your specific needs!